Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Just a thought... Money laundering after Brexit

20 May 2019 / Aziz Rahman
Issue: 4696 / Categories: Comment & Analysis
Concerns over the money laundering implications for post-Brexit UK

So far among the political turmoil over Brexit and the UK’s future relationship with Europe the issue of money laundering seems to have been overlooked. And that would be a big mistake.

There can be no conclusive estimates of the scale of money laundering in Europe. But we are talking about many billions of pounds a year. Many commentators would say the EU has been far from perfect when it comes to tackling money laundering. But it has at least introduced a series of money laundering directives in recent years that aim to stop the proceeds of crime flowing into its member states.

The most recent the Fifth Money Laundering Directive (5MLD) is set for implementation in 2020. Following on from the Fourth Money Laundering Directive – which ordered major changes to how businesses should take a risk-based approach to money laundering and removed automatic exemptions from due...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon